EURUSD Forex Analysis for Today
Wednesday(07-02-2024)
Potential Double Bottom, Get Ready to BUY EURUSD
Daily Analysis EURUSD
Dollar Corrects From 3-Month High
The dollar corrects from a 3-month high. Analysts expect the correction due to technical factors following a rally triggered by the strengthening US non-farm payrolls data and Powell’s somewhat hawkish statements.
Potential Double Bottom
There is a potential formation of a double bottom pattern on the H1 time frame. A breakthrough of resistance will increase buying opportunities.
Prediction: STRONG EURUSD
Resistance and Support Levels
Resistance
- R1 1.07714
- R2 1.07158
- R3 1.07955
- R4 1.08165
Support
- S1 1.07158
- S2 1.07714
- S3 1.06970
- S4 1.06677
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